5 ways to take control of student loan bills now

NEW YORK — School isn't over yet for recent college graduates. Their next test is figuring out how to repay student loans.

It's easy to become complacent about student loans because the bills don't start arriving until after a six-month grace period following graduation. The catch is that interest continues to pile up, so borrowers should start making payments as soon as they're able.

The reality is that many graduates are struggling just to find work in this job market. And those who land jobs may only be earning enough to cover living expenses.

Meanwhile, recent graduates may be staring down intimidating debt loads. Those who borrow to attend public colleges graduate with an average $20,000 in student loans, according to The College Board. For private school graduates, the average debt is about $26,100.

If you don't think you'll be able to cover the monthly bills when they start arriving in a few months, here are five options that can make payments more manageable.